Europe, Middle East and North Africa

Europe, Middle East and North Africa

Fact Sheet—March 2021

1

Area Interest OperatorCrude Oil

(MBD)

NGL(MBD)

Natural Gas(MMCFD)

Total(MBOED)

Greater Ekofisk Area 30.7%-35.1% ConocoPhillips 46 2 39 55

Heidrun 24.0% Equinor 12 1 32 18

Aasta Hansteen 10.0% Equinor - - 82 14

Troll 1.6% Equinor 2 - 54 11

Visund 9.1% Equinor 2 1 40 10

Alvheim 20.0% Aker BP 8 - 13 10

Other Various Equinor 8 - 10 9

Norway Total 78 4 270 127

Qatargas 3 30.0% Qatargas Operating Co. 13 8 371 83

Qatar Total 13 8 371 83

Waha Concession 16.3% Waha Oil Co. 8 - 5 9

Libya Total 8 - 5 9

Europe, Middle East and North Africa Total 99 12 646 219

2020 Production 2020 Capital Expenditures and Investments

4Q 4Q3Q 3Q2Q 2Q1Q 1Q

MBO

ED

$ M

illio

ns

ConocoPhillips has operated in Europe for more than 50 years, with significant developments in the Norwegian sector of the North Sea and in the Norwegian Sea. In Qatar, the company has interests in a producing field as well as liquefied natural gas production and export. The company also has interests in a concession in Libya.

Operated assets in Europe include the Greater Ekofisk Area in Norway. The company also conducts exploration activity in Norway. The company has leveraged its existing operations, infrastructure and basin expertise to create incremental growth projects in recent years, and development opportunities still exist in ConocoPhillips’ legacy areas.

In Qatar, the Qatargas 3 joint venture continues providing stable production.

In Libya, the company has an interest in the Waha Concession in the Sirte Basin. Production operations in Libya and related oil exports have been periodically interrupted over the last several years due to forced shutdowns of the Es Sider terminal.



ConocoPhillips—Average Daily Net Production, 2020

*Represents proved reserves for consolidated operations only and excludes equity affiliates. See page 7 for Cautionary Statement pertaining to the use of this Fact Sheet.

2192020 Production

0.62020 Proved Reserves*

Billionbarrels of oil equivalent

2020 Production Mix

5%NGL

50%Natural Gas

45%Crude Oil

Thousandbarrels of oil equivalent per day

226

121

210

130

208

159

1

235 190



2

Hammerfest

Tromsø

Oslo

B a r e n t sS e a

S W E D E N

N O R W A Y

D E N M A R K

F I N L A N D

N o r w e g i a nS e a

N o r t hS e a

0 100

M I L E S

Visund

Aasta Hansteen

PL1009

Trondheim

Troll

BergenOseberg

PL1047

AlvheimPL1045

GranePL917 B

Stavanger

Greater Ekofisk Area

Heidrun

PL1009 B

PL1064

PL891

ConocoPhillips Acreage Jurisdictional Boundary

Hammerfest

Tromsø

Oslo

B a r e n t sS e a

S W E D E N

N O R W A Y

D E N M A R K

F I N L A N D

N o r w e g i a nS e a

N o r t hS e a

0 100

M I L E S

Visund

Aasta Hansteen

PL1009

Trondheim

Troll

BergenOseberg

PL1047

AlvheimPL1045

GranePL917 B

Stavanger


Heidrun

PL1009 B

PL1064

PL891

ConocoPhillips Acreage Jurisdictional Boundary

Norway



ConocoPhillips has a significant production and exploration position in the Norwegian sector of the North Sea. ConocoPhillips’ history in Norway began in the early 1960s, when the company was awarded three production licenses. A successful discovery in 1969 led to the commissioning of Ekofisk, the first commercial oil field in the Norwegian sector.

Current operated production comes from the Ekofisk, Eldfisk, Embla and Tor fields. In addition to the Greater Ekofisk Area, ConocoPhillips has ownership interests in several non-operated assets.

Greater Ekofisk AreaThe Greater Ekofisk Area, located approximately 200 miles offshore Stavanger, Norway, is comprised of four producing fields: Ekofisk, Eldfisk, Embla and Tor. Crude oil is exported to Teesside, England, and the natural gas is exported to Emden, Germany.

Ekofisk, Eldfisk and EmblaOperator: ConocoPhillips (35.1%)Co-venturers: Total (39.9%), Vår Energi (12.4%), Equinor (7.6%), Petoro (5.0%)The Ekofisk and Eldfisk fields consist of several production platforms and facili-ties, with development drilling continuing over the coming years. Water injection has resulted in increases to both production and recoverable reserves.

Tor Operator: ConocoPhillips (30.7%)Co-venturers: Total (48.2%), Vår Energi (10.8%), Equinor (6.6%), Petoro (3.7%)First oil from the Tor II subsea develop-ment, tied back to the Ekofisk complex, was achieved in December 2020.

Tommeliten Operator: ConocoPhillips (28.3%)Co-venturers: PGNiG (42.4%), Total (20.2%), Vår Energi (9.1%)Also within the Greater Ekofisk Area is the currently non-producing Tommeliten license, which offers potential future development opportunities.

Norway

The company-operated Ekofisk Complex in the Norwegian North Sea.

3



VisundOperator: Equinor (53.2%)Co-venturers: Petoro (30.0%), ConocoPhillips (9.1%), Repsol (7.7%)Visund is an oil and gas field located in the Tampen Area of the North Sea. It consists of a floating drilling, production, processing and accommodation unit, and subsea installations. Oil is transported by pipeline to the third-party Gullfaks Field for storage and export via tankers. The natural gas is transported to a gas processing plant at Kollsnes, Norway, through the Gassled transportation system.

AlvheimOperator: Aker BP (65.0%)Co-venturers: ConocoPhillips (20.0%), Lundin Oil (15.0%)Alvheim is an oil and gas field located in the northern part of the North Sea. It consists of a floating production, storage and offloading (FPSO) vessel and subsea installations. Oil production started in 2008. Produced oil is exported via shuttle tankers, and natural gas is transported to the Scottish Area Gas Evacuation (SAGE) terminal at St. Fergus, Scotland, through the SAGE pipeline.

Partner-operated Assets

HeidrunOperator: Equinor (13.0%)Co-venturers: Petoro (57.8%), ConocoPhillips (24.0%), Vår Energi (5.2%)The Heidrun Field, located in the Norwegian Sea, began production in 1995. Crude oil is stored in a floating storage unit and exported via shuttle tankers. A portion of the natural gas is currently injected into the reservoir for optimization of crude production, and some is transported for use as feedstock in a methanol plant in Norway, in which ConocoPhillips has an 18% interest. The remainder is transported to Europe via gas processing terminals in Norway.

Aasta HansteenOperator: Equinor (51.0%)Co-venturers: Wintershall DEA (24.0%), OMV (15.0%), ConocoPhillips (10.0%)The Aasta Hansteen Field is a deepwater gas development located in the Norwegian Sea. The field has been developed using a floating spar platform with a vertical cylindrical hull moored to the seabed and subsea templates. Production started in 2018. Produced condensate is loaded onto shuttle tankers and transported to market. Gas is transported through the Polarled gas pipeline to the onshore Nyhamna processing plant. ConocoPhillips has interests in the pipeline and processing facilities of 4.5% and 1.7%, respectively.

TrollOperator: Equinor (30.6%)Co-venturers: Petoro (56.0%), Shell (8.1%), Total (3.7%), ConocoPhillips (1.6%)Troll is a natural gas and oil field in the northern part of the North Sea. Troll has two main structures, Troll East and Troll West, and is one of the largest natural gas fields in the North Sea. Troll A, a fixed wellhead and compression facility with a concrete substructure, exports gas from Troll East and West to Kollsnes, Norway. Oil from floating platforms Troll B and Troll C is transported to Mongstad, Norway, for storage and export. Further development is planned at the field and the Troll Phase III project received government approval in 2018, with first gas expected in 2021.

Other

GraneOperator: Equinor (36.6%)Co-venturers: Petoro (28.9%), Vår Energi (28.3%), ConocoPhillips (6.2%)Grane is an oil field in the northern part of the North Sea. It has been developed with an integrated accommodation, processing and drilling platform. Oil from Grane is transported by pipeline to the Sture Terminal in Norway for storage and export.

Oseberg AreaOperator: Equinor (49.3%)Co-venturers: Petoro (33.6%), Total (14.7%), ConocoPhillips (2.4%)The Oseberg Area is located in the northern part of the North Sea and consists of four platform complexes. The natural gas produced is transported to market through the Gassled transportation system, and liquids are transported to the onshore Sture Terminal in Norway.

The Eldfisk Complex, part of the Greater Ekofisk Area.

4



Facilities Exploration and Business Development

Recent License Awards

North Sea and Norwegian SeaIn the second half of 2020 we completed the operated Warka (PL1009) and Slagugle (PL891) exploration wells in the Norwegian Sea. Both the Warka and Slagugle wells encountered hydrocarbons and will be evaluated for future appraisal programs. Also in 2020 we completed the Hasselbaink well, the third of a three-well operated exploration campaign in Block 25/7 in the North Sea. The Hasselbaink well encountered insufficient hydrocarbons and is not considered commercial. During the year we were also awarded three new exploration licenses; PL1045, PL1047 and PL1064; and two acreage additions, PL917 B and PL1009 B.

Norpipe Oil Pipeline SystemOperator: ConocoPhillips (35.1%)Co-venturers: Total (34.9%), Equinor (18.5%), Vår Energi (6.5%), Petoro (5.0%)This 220-mile North Sea pipeline carries crude oil from the Greater Ekofisk Area to a terminal and NGL processing facility at Teesside, England. The pipeline has a net capacity of 830 MBD of crude oil. It serves several other fields in Norway and the United Kingdom, including recent new field tie-ins.

Teesside Oil TerminalOperator: ConocoPhillips (40.3%)Co-venturers: Total (45.2%), Eni (14.2%), Rothschild & Co. S.C.A. (0.3%)Completed in 1975, this facility is a crude oil reception, processing, storage and transshipment installation. Crude oil and NGLs from the Greater Ekofisk and Valhall areas in Norway are delivered to Teesside, U.K.

5

License Interest Operator Recent Activity

PL1045 20% AkerBP 2020 license award in the Norwegian North Sea

PL1047 30% AkerBP 2020 license award in the Norwegian North Sea

PL1064 40% ConocoPhillips 2020 license award in the Norwegian Sea

PL917 B 40% ConocoPhillips 2020 license award in the Norwegian North Sea

PL1009 B 65% ConocoPhillips 2020 license award in the Norwegian Sea



6

Qatar

ConocoPhillips Acreage Facility

N O R T H F I E L D

Ras La�an

Q A T A R

Qatargas 3 LNG

250

M I L E S

Q A T A RDoha

Abu Dhabi

U N I T E D A R A BE M I R A T E S

O M A N

I R A N

K U W A I T

B A H R A I N

S A U D I A R A B I AG u l f o fO m a n

2000

M I L E S

ConocoPhillips Acreage Facility

N O R T H F I E L D

Ras La�an

Q A T A R

Qatargas 3 LNG

250

M I L E S

Q A T A RDoha

Abu Dhabi

U N I T E D A R A BE M I R A T E S

O M A N

I R A N

K U W A I T

B A H R A I N

S A U D I A R A B I AG u l f o fO m a n

2000

M I L E S

Qatar

North FieldQatargas 3Operator: Qatargas Operating Company Limited (QG OPCO)Co-venturers: Qatar Petroleum (68.5%), ConocoPhillips (30.0%), Mitsui (1.5%)In 2003, ConocoPhillips and Qatar Petroleum signed a Heads of Agreement to develop Qatargas 3, a large-scale LNG project in Ras Laffan Industrial City, Qatar. The integrated project comprises upstream natural gas production facilities that produce approximately 280 MBOED gross (approximately 70% natural gas and 30% LPG and condensate) from Qatar’s North Field, the world’s largest contiguous conventional gas field, over the 25-year project life. The project also includes a 7.8-million-tonnes-per-annum (MTPA) nameplate LNG facility.

The first LNG cargo was loaded in 2010, with steady production achieved in 2011. In order to capture cost savings, Qatargas 3 executed development of the onshore and offshore assets as a single integrated project with Qatargas 4. This included the joint development of offshore facilities situated in a common offshore block in the North Field, as well as construction of two identical LNG process trains and associated gas treating facilities for the Qatargas 3 and Qatargas 4 joint ventures. Production from the LNG trains and associated facilities is shared.

Libya

Sirte BasinWaha ConcessionOperator: Waha Oil Co., a wholly owned subsidiary of Libyan National Oil Corp. Co-venturers: Libyan NationalOil Corp. (59.2%), ConocoPhillips (16.3%), Total (16.3%), Hess (8.2%)The Waha Concession is made up of multiple concessions and encompasses nearly 13 million gross acres in the Sirte Basin.

Current production comes from 13 existing fields within the Waha Concession. North Gialo is a major growth project under evaluation for development by the co-venturers.

Production operations in Libya and related oil exports have periodically been interrupted over the last several years due to forced shutdowns of the Es Sider terminal.

Libya

NorthGialo

L I B Y A

500

M I L E S

ConocoPhillips Acreage Oil Field

A F R I C A

M e d i t e r r a n e a nS e a

NorthGialo

L I B Y A

500

M I L E S

ConocoPhillips Acreage Oil Field

A F R I C A

M e d i t e r r a n e a nS e a



15(As of Dec. 31, 2020)

Operations and activities in 15 countries

7

Heidrun

Aasta Hansteen

London EUROPE

MIDDLE EAST

AFRICA

NorthSea

NorwegianSea

AtlanticOcean

N O R W A Y

U N I T E DK I N G D O M

Visund

TrollAlvheim


Stavanger

L I B Y A

Q A T A R

Tripoli

NOR THAFRICA

Doha

Corporate Information

Our Company Values

SSAFETY PEOPLE

PINTEGRITY

IRESPONSIBILITY

RINNOVATION

ITEAMWORK

T

Contact InformationNorway: www.conocophillips.noQatar: www.conocophillips.qa

Exploration Production Key Development or Program Key O�ce LocationExploration and Production

Segment Information

Copyright ©2021 ConocoPhillips Company. All Rights Reserved.

CAUTIONARY STATEMENTThis fact sheet contains forward-looking statements. We based the forward-looking statements on our current expectations, estimates and projections about ourselves and the industries in which we operate in general. We caution you that these statements are not guarantees of future performance as they involve assumptions that, while made in good faith, may prove to be incorrect, and involve risks and uncertainties we cannot predict. In addition, we based many of these forward-looking statements on assumptions about future events that may prove to be inaccurate. Accordingly, our actual outcomes and results may differ materially from what we have expressed or forecast in the forward-looking statements. Economic, business, competitive and other factors that may affect ConocoPhillips’ business are set forth in ConocoPhillips’ filings with the Securities and Exchange Commission (including in Item 1A of our Form 10-K), which may be accessed at the SEC’s website at www.sec.gov.

Definition of resources: ConocoPhillips uses the term “resources” in this document. The company estimates its total resources based on a system developed by the Society of Petroleum Engineers that classifies recoverable hydrocarbons into six categories based on their status at the time of reporting. Three (proved, probable and possible reserves) are deemed commercial and three others are deemed noncommercial or contingent. The company’s resource estimate encompasses volumes associated with all six categories. The SEC permits oil and gas companies, in their filings with the SEC, to disclose only proved, probable and possible reserves. We use the term “resources” in this fact sheet that the SEC’s guidelines prohibit us from including in filings with the SEC. U.S. investors are urged to consider closely the oil and gas disclosure in our Form 10-K and other reports and filings with the SEC.

Chairman of the Board of Directors and Chief Executive OfficerRyan M. Lance

ConocoPhillips925 North Eldridge ParkwayHouston, Texas 77079Telephone: 281-293-1000www.conocophillips.com

President, Europe, Middle East and North AfricaSteinar Vaage

Office Address Ekofiskvegen 35, 4056 Tananger, Norway

Media Relations925 North Eldridge ParkwayHouston, Texas 77079Telephone: 281-293-1149www.conocophillips.com/[email protected]

Investor Relations925 North Eldridge ParkwayHouston, Texas 77079Telephone: 281-293-5000www.conocophillips.com/investor [email protected]

http://www.conocophillips.no

http://www.conocophillips.qa

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http://www.conocophillips.com/news-media

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Europe, Middle East and North Africa